7444 Cedar Ave S

Richfield, MN 55423

$2,900,000
Price
—
Beds
—
Baths
21,840 Sq. Ft.
$133 / Sq. Ft.
21,840
Sq. Ft.
$133
per Sq. Ft.

Description

Introducing a unique investment opportunity in the heart of Richfield, Minnesota! This expansive property located at 7444 Cedar Ave boasts a total of 23 units with a combined square footage of 21,840, making it an ideal investment for those looking to expand their apartment rental portfolio. The asset sits on over 0.88 acres, on a bus route, and close to the Mall of America! Built in 1966, this very well-maintained building features a mix of 18 spacious two-bedroom units and 5 cozy one-bedroom units,...Introducing a unique investment opportunity in the heart of Richfield, Minnesota! This expansive property located at 7444 Cedar Ave boasts a total of 23 units with a combined square footage of 21,840, making it an ideal investment for those looking to expand their apartment rental portfolio. The asset sits on over 0.88 acres, on a bus route, and close to the Mall of America! Built in 1966, this very well-maintained building features a mix of 18 spacious two-bedroom units and 5 cozy one-bedroom units, providing a variety of options for potential renters. Additionally, the property includes 10 detached garages, ensuring that tenants have ample space to park their vehicles. The exterior of the property is well-maintained and features a classic brick façade, while the interior of the units are spacious and have updated appliances. The property is conveniently located near major transportation routes, making it easy for tenants to commute to work or enjoy all that Richfield has to offer. Investors looking for a turn-key property with strong cash flow potential will appreciate the low maintenance costs and high rental demand in the area. Don't miss out on this rare opportunity to own a property that is fully occupied and turn-key in a non-rent controlled city on Minnesota! The brick exterior façade makes this property shine. There are many updates in recent years including the front and rear entryways, security cameras, newer vinyl windows, brand new commercial grade water heater replaced in 2023, and a newer roof on both the building and garages replaced in 2014. PROPERTY FACTS
Year Built: 1966

Square Footage: 21,840

Units: 23

Zoning: Multiple-family District

Parking: 10 Garage Stalls plus plenty of off street parking

Exterior: Brick

Heating: Boiler

Roof: Flat - New installed by All Elements, Inc. in 2014

UNIT DESCRIPTION
18 - 2 bedroom, 1 bath - Approx. 910+ Sqft.

5 - 1 bedroom, 1 bath - Approx. 750+ Sqft

PROPERTY IMPROVEMENTS
2022: New Commercial High-Efficiency Water Heater built by Bock.

2018: New Carpet in Hallways, Common Areas, Entry Way

2014: Roof - Durolast by All Elements, Inc. with 15 year warranty

2013: Windows - Installed vinyl replacement sliders by Window World, Inc. PRICE: $3,300,000
Information is deemed reliable but not guaranteed. Buyer and Buyer's agent to verify all details.

Property Details for 7444 Cedar Avenue South

Zoning Jurisdiction
Residential-Multi-Family
LISTING UPDATED: 11/22/2025 11:45 PM

Property Details for 7444 Cedar Avenue South

StatusActive
MLS #6687483
Days on Compass240
Taxes$48,980 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeApartment
MLS TypeCommercial Sale / Apartment
Year Built1966
Lot Size0.89 AC / 38,768 SF
CountyHennepin County

Location

Listing Courtesy of Apartment Cash Flow, Inc.
Add your commute

Building Information for 7444 Cedar Avenue South

Stories-Residences23Year Built1966Lot Size0.89 AC / 38,768 SF

Payment Calculator

$18,412 per month

30 year fixed, 6.28% Interest

Principal and Interest

$14,330

Property Taxes

$4,082

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7444 Cedar Avenue South

Summary
Location and General Information
  • City Name: Richfield
  • County Or Parish: Hennepin
  • County: Hennepin-MN
  • Directions: Just west of Highway 77 and north of Highway 494
  • Latitude: 44.867912
  • Longitude: -93.248294
  • Map Coordinate: 134-E1
  • Map Coordinate Source: King's Street Atlas
  • City and Location: Minneapolis
  • City and Location Text: Minneapolis(MN)
  • Postal Code: 55423
  • State Or Province: MN
  • Public Survey Township: 28
  • Topography: Level
Taxes and HOA Information
  • Additional Parcels: No
  • Parcel Number: 3502824410002
  • Tax Annual Amount: $48,980.00
  • Tax Legal Description: UNPLATTED 35 028 24 THAT PART OF THE S 1/2 OF N 1/2 OF NE 1/4 OF SE 1/4 LYING E OF ZUBERTS SOUTH VIEW GARDENS THIRD ADDN EX ROAD
  • Tax Other Annual Assessment Amount: $.00
  • Tax Year: 2025
  • Tax With Assessments: 48980.0000
School Information
  • High School District: 280 - Richfield
  • School District Number: 280
  • School District Phone: 612-798-6010
Property
Lot Information
  • Current Use: Residential
  • Lot Features: Some Trees
  • Lot Size Area: 0.89
  • Lot Size Dimensions: 0.88
  • Lot Size Units: Acres
  • Possible Use: Motel/Hotel
  • Property Sub Type: Apartment
  • Property Type: Commercial Sale
  • Building Area Total: 21840.0
Property and Assessments
  • Age Of Property: 59
Utilities
  • Sewer: City Sewer/Connected
  • Utilities: Electric Separate, Heating Common, Hot Water Common
  • Water Source: City Water/Connected
Interior and Exterior Features
Exterior Features
  • Accessibility Features: None
  • Association Amenities: Coin-op Laundry Owned, Patio
  • Foundation Area: 7280.0
  • Fuel: Natural Gas
  • Road Frontage Type: City Street
  • Road Responsibility: Public Maintained Road
  • Roof: Age Over 8 Years, Flat
Interior Features
  • Appliances: Range, Refrigerator
  • Basement Type: Egress Window(s), Finished
  • Cooling: Wall Unit(s)
  • Ceiling Height: 8-10
  • Heating: Boiler
  • Levels: Three Or More
  • Number of Refrigerator: One Per Unit
  • Basement YN: Yes

Property History for 7444 Cedar Avenue South

DateEvent & SourcePriceAppreciation
Nov 22, 2025

Listed (Active)

NorthStar #6687483

—
Nov 22, 2025

In Contract

NorthStar #6687483

—
Oct 18, 2025

Off Market

NorthStar #6687483

—
Sep 29, 2025

Price Change

NorthStar #6687483

$2,900,000—
Jul 23, 2025

Price Change

NorthStar #6687483

$3,100,000—
May 22, 2025

Price Change

NorthStar #6687483

$3,150,000—
Mar 18, 2025

Listed (Active)

NorthStar #6687483

$3,300,000—
Nov 15, 2022

Sold (Public Record)

Public Record #1501594855

$3,079,500—
DateEvent & SourcePrice
11/22/2025

Listed (Active)

NorthStar #6687483

—
11/22/2025

In Contract

NorthStar #6687483

—
10/18/2025

Off Market

NorthStar #6687483

—
09/29/2025

Price Change

NorthStar #6687483

$2,900,000
07/23/2025

Price Change

NorthStar #6687483

$3,100,000
05/22/2025

Price Change

NorthStar #6687483

$3,150,000
03/18/2025

Listed (Active)

NorthStar #6687483

$3,300,000
11/15/2022

Sold (Public Record)

Public Record #1501594855

$3,079,500

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7444 Cedar Avenue South

Taxable ValueLand$276,000Additions$2,624,000Total$2,900,000
Tax Record2025$51,328 ($4,277 / month)
Home Facts
Lot Size38,768 SqFtStyleMulti-Family Res (5+ Units)Year Built1966Year Renovated1985CountyHENNEPINAPN35-028-24-41-0002

Schools near 7444 Cedar Avenue South

This home is within Richfield Public School District.
Rating
School
Type
Grades
Distance
Centennial Elementary School
Public - PK to 5
Richfield Middle School
Public - 6 to 8
Richfield Senior High School
Public - 9 to 12
Richfield Stem School
Public - PK to 5
Rating
School
Distance
Centennial Elementary School
PublicPK to 5

Richfield Middle School
Public6 to 8

Richfield Senior High School
Public9 to 12

Richfield Stem School
PublicPK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

Explore Nearby Homes

More information about 7444 Cedar Avenue South, Richfield, MN 55423

7444 Cedar Avenue South is for sale in Richfield, MN 55423. This property was listed for sale on March 18, 2025 by Apartment Cash Flow, Inc., it's currently listed at $2,900,000. It has been on the market for a total of 240 days and was last sold on November 15, 2022. This listing's school district is Richfield Public School District. Nearby schools include Centennial Elementary School, Richfield Middle School and Richfield Senior High School. 7444 Cedar Avenue South is a 0-bed, 0-bath, 21,840 sqft built in 1966.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Apartment Cash Flow, Inc.

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 12/19/2025 06:25 PM. All data is obtained from various sources and may not have been verified by broker orMLS GRID. Supplied Open House Information is subject to change without notice. All informationshould be independently reviewed and verified for accuracy. Properties may or may not be listed bythe office/agent presenting the information.